Form 8-K - Current report
05 6월 2024 - 9:15PM
Edgar (US Regulatory)
false
0001934245
0001934245
2024-06-04
2024-06-04
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UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date
of Report (Date of earliest event reported): June 4,2024
SACKS
PARENTE GOLF, INC.
(Exact name of registrant as specified in its charter)
Delaware |
|
001-41701 |
|
82-4938288 |
(State or other jurisdiction
of incorporation) |
|
(Commission
File Number) |
|
(IRS
Employer
Identification No.) |
551
Calle San Pablo
Camarillo, CA 93012
(Address
of principal executive offices, including ZIP code)
855-774-7888
(Registrant’s
telephone number, including area code)
Not
Applicable
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (See General Instruction A.2. below):
☐ |
Written
communications pursuant to Rule 425 under the Securities Act of 1933 (17 CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(e) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of Each Class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Common
stock, par value $0.01 per share |
|
SPGC |
|
The
Nasdaq Stock Market, LLC |
Item
3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
As
previously reported in a Current Report on Form 8-K filed December 6, 2023, on December 5, 2023, Sacks Parente Golf, Inc. (the “Company”)
received a deficiency letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying
the Company that, for the preceding 30 consecutive business days, the closing bid price of the Company’s common stock remained
below the minimum $1.00 per share requirement for continued inclusion on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2)
(the “Bid Price Requirement”). The Company was provided an initial period of 180 calendar days, or until June 3, 2024, (the
“Compliance Period”) to regain compliance with the Bid Price Requirement.
On
June 4, 2024, the Company received a staff determination letter (the “Determination Letter”) from the Staff notifying the
Company that it had not regained compliance with the Bid Price Requirement by June 3, 2024, and is not eligible for a second 180-day
period due to the Company’s failure to comply with the minimum stockholders’ equity initial listing requirement for The Nasdaq
Capital Market.
Accordingly,
and as described in the Determination Letter, unless the Company timely requests a hearing before a Hearings Panel (the “Panel”),
the Company’s securities would be subject to suspension/delisting. Accordingly, the Company intends to timely request a hearing
before the Panel. The hearing request will automatically stay any suspension or delisting action pending the hearing and the expiration
of any additional extension period granted by the Panel following the hearing. In that regard, pursuant to the Nasdaq Listing Rules,
the Panel has the authority to grant an extension not to exceed 180 days from the date of the Determination Letter.
Notwithstanding
the foregoing, there can be no assurance that the Panel will grant the Company an additional extension period or that the Company will
ultimately regain compliance with all applicable requirements for continued listing on The Nasdaq Capital Market.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Date:
June 5, 2024 |
SACKS
PARENTE GOLF, INC. |
|
|
|
|
By: |
/s/
Steve Handy |
|
|
Steve
Handy |
|
|
Chief
Financial Officer |
v3.24.1.1.u2
Cover
|
Jun. 04, 2024 |
Cover [Abstract] |
|
Document Type |
8-K
|
Amendment Flag |
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|
Document Period End Date |
Jun. 04, 2024
|
Entity File Number |
001-41701
|
Entity Registrant Name |
SACKS
PARENTE GOLF, INC.
|
Entity Central Index Key |
0001934245
|
Entity Tax Identification Number |
82-4938288
|
Entity Incorporation, State or Country Code |
DE
|
Entity Address, Address Line One |
551
Calle San Pablo
|
Entity Address, City or Town |
Camarillo
|
Entity Address, State or Province |
CA
|
Entity Address, Postal Zip Code |
93012
|
City Area Code |
855
|
Local Phone Number |
774-7888
|
Written Communications |
false
|
Soliciting Material |
false
|
Pre-commencement Tender Offer |
false
|
Pre-commencement Issuer Tender Offer |
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|
Title of 12(b) Security |
Common
stock, par value $0.01 per share
|
Trading Symbol |
SPGC
|
Security Exchange Name |
NASDAQ
|
Entity Information, Former Legal or Registered Name |
Not
Applicable
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